Paying for transaction fees on Polygon networks, similar to ETH tokens used on Ethereum.Polygon MATIC tokens are mainly used for: They can also be bridged to other networks. They are ERC-20 tokens that can be stored in any Ethereum-compatible wallet. One of the main goals of CrowdSwap is to offer solutions for lower fees and fast transactions. Transaction fees in the MATIC network are extremely low, sometimes cheaper than $0.001! Blazing fast transaction speeds makes it an optimal place to start our journey. Polygon processes up to 65,000 TPS (transactions per second) in a single side chain, and the confirmation time of each block is under 2 seconds.īecause of these features, the polygon network has attracted much interest. These features help increase scalability and solve Ethereum’s current problem of network congestion and high transaction fees. In addition, the Optimistic roll-up feature speeds up the transaction time. The ZK Roll-up takes many transfers from the network and consolidates them into single transactions. Polygon has several innovative features, such as ZK and Optimistic roll-ups.
The main goal of the Polygon network is to provide a framework for building blockchain networks that can communicate with each other. Polygon is a platform for building a dedicated blockchain network, combining all the features of an independent blockchain (flexibility, governance, and scalability) with the best features of Ethereum (security, developer experience, and cross-chain collaboration). The Polygon Network brings secure, convenient, fast off-chain payment transactions and off-network smart contracts. The Polygon Network utilizes a very versatile framework called Polygon SDK, described by the project as the “Gateway to Multi-Chain Ethereum.” The native token of the Polygon network is MATIC, which has attracted much attention recently. Known also as MATIC, the Polygon Network is a layer-2 scalability platform introduced as a solution to increasing the scalability of the Ethereum Network. Before starting that, it’s better to know more about Polygone and MetaMask and follow the correct and exact guide.
ADD POLYGON TO META MASK INSTALL
You can download MetaMask from its official website and install it on your browser.
MetaMask is a popular wallet that allows you to interact with Ethereum and other compatible networks. You need to add the Polygon network to your MetaMask wallet. To use Polygon decentralize application (dApps). Polygon uses its token, MATIC, which is also compatible with the Ethereum network. Polygon is a layer-2 scaling solution for Ethereum that offers fast and cheap transactions on its network.
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